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Search Results 0 to 49 of about 76 (some duplicates have been removed)
CNN
Dec 3, 2012 4:00am PST
because of the impasse and also the fact that the consequences of the fiscal cliff, these spending cuts and these tax -- pardon me the spending cuts and the tax increases that kick in here at the end of the year, the consequences are very dire and following the election the white house and democrats think that they can really push republicans into a corner here. >> brianna keilar for us. thank you. just ahead we're going to be talking with connecticut senator richard blumenthal will join us to talk a little bit about the democrats' responsibility about this impending fiscal cliff. another story we're following, friends and family of kansas city chiefs jovan belcher looking for answers this morning after he killed his girlfriend and then took his own life. his team took to the field just a day after the tragedy. it was i guess kind of a somber victory. they beat the carolina panthers 27-21. just their second game of the season. saturday morning belcher shot his 22-year-old girlfriend kasandra perkins and then turned the gun on himself outside the practice facility. he and perkins leave b
CBS
Dec 5, 2012 5:30pm PST
before that so- called fiscal cliff. that's the package of tax increases for most americans and budget cuts that will hit automatically unless the white house and congress find a gentler way to solve the crisis in the federal budget. here's how treasury secretary tim geithner put it on cnbc. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember, it's only 2%. >> pelley: by top 2%, he means individuals making more than $200,000 and couples taking in $250,000 or more. republicans say rates shouldn't be increased on anyone. with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $40,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett
FOX News
Dec 5, 2012 12:00pm PST
cliff is a series of spending cuts and expiring tax credits set to take effect in 27 days. today the president made the case to a group of top business leaders. his plan calls for a higher tax rate on earned income exceeding $250,000 and republicans say that would be a job killer. though are pushing for raise revenue by closing tax loopholes and deductions, something that the president says would not raise enough cash. wendell is live with more on the white house. how much much revenue would the president's plan raise by raising the tax rates for high earners? >> about $1 trillion the next 10 years from the rate increase. that is just part of a package that also includes limits on deductions and tax credits and aims to pull in a total of $1.6 trillion. republicans want to keep tax rates the same b end deductions and loopholes but obama says that will not get the job done. >> it is not possible to raise the amount of revenue required for a balance the package if all you rely on is closing deductions and loopholes. let me amend that. it is possible to do theoretically but it is not
CBS
Dec 6, 2012 4:30am PST
some hopes that formal talks will resume on how to avoid the new year's day "fiscal cliff." across-the-board spending cuts and tax increases as we all know will kick in if a budget agreement isn't reached by the end of the month. the president also met with ceos of some of the nation's largest companies hoping to convince them of the need for higher tax rates at upper income levels. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering but, rather, because we need to raise a certain amount of money. >> house majority leader eric cantor says more needs to be done about spending right now. >>> meanwhile, public policy polling conducted an unusual survey to test american knowledge about debt reduction policy. people were asked what they thought of the panetta burns planning, something that doesn't even exist. one-fourth of the people took a stance on it anyway. 8% are in support by golly. 17% opposed. >> that's right. it's important to do research. >> absolutely. >> do your homework. >>> apple stock is coming off one of its worst sections on wall
CNN
Dec 6, 2012 6:00am PST
that fiscal cliff? ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? starts with ground beef, unions, and peppers baked in a ketchup glaze with savory gravy and mashed russet potatoes. what makes stouffer's meatloaf best of all? that moment you enjoy it at home. stouffer's. let's fix dinner. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars that moment you enjoy it at home. to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel
CNBC
Dec 3, 2012 2:00pm EST
and spending cuts. notice i did not call it the fiscal cliff. so ultimately which wins out? let's ask gina sanchez, director of equity and asset allocation at rubini global economics. dan, i know you've been traveling, london, san fran, all parts in between last couple of weeks. how concerned are your clients about what's going to happen on january 1st? >> it's not so much that they're concerned about what happens on january 1st because i think the bulk of our meetings have focused on the fact that this isn't really a cliff so much as a lot of people have been saying a slope. more importantly to your first question, i have been on the road for the better part of 2 1/2 months now. i don't really get many questions or have many debates about greece or spain anymore. i think there's definitely a back burner element to what's going on in europe as people focus whether it happens on january 1st or not on the fiscal cliff. >> let me follow up with that real quick. here's the thing -- the greek situation, which was driving the market negativity a few months ago, is the same, roughly, as it was th
CNN
Nov 30, 2012 7:00pm PST
that sounds like logic, there's that other side of the fiscal cliff, all those horrible cuts that could plunge us into a depression and all the rest that no democrats want either. so are you serious, you really -- are you really saying what i think you're saying, that is that it might be a strategy that the president really wants? wants us all to go over the cliff? and then just blame you? >> yeah. that i think that's to his political advantage to do that, because then he gets to blame us, set up the 2014 elections by us being the bad guys. but look at this. a lot of my colleagues on the other side of the aisle like the $600 billion hit to the defense department, and they'll absorb the 2% of cuts to the other programs out there. and remember, none of the cuts that are in the sequestration have to do with the big three on the entitlement programs. most of us would love to see an erskine bowles type of solution put on the table here. >> so what if there were -- >> the simpson/bowles, sorry. >> simpson/bowles, i understood what you mean. there is an erskine bowles as well. what about congressman
CNN
Dec 5, 2012 4:00am PST
of a deal now and that will keep us from going over the fiscal cliff. then let the tax cuts expire for the wealthy january 1st. it happens. then you can do some kind of negotiation. and that keeps us from going over the fiscal cliff. it's going to happen anyway, right? >> this is the very kind of shell game they run in washington. if you'll just give me my tax increases today, i surely will give you your spending restraint tomorrow. >> but you have no leverage in the debate. >> we never see these spending reductions materialize. that's the problem. we're borrowing roughly 40 cents on the dollar, much of it from the chinese, sending the bill to our children and grandchildren. that's unwise and unsustainable. frankly, i think it's immoral. and what you're saying is that republicans ought to agree, and somehow vote for a big proposed tax increase in hopes that in decade decades to come that this president will do something about spending. >> no, i didn't say that. what i said was why not -- why don't republicans and democrats vote for a tax -- to keep the taxes lower for middle class
FOX News
Dec 6, 2012 4:00pm PST
now, especially with budget cuts coming in the battle over the fiscal cliff but the agency has an unlimited line of credit with the treasury department. today, the housing secretary could not rule out tapping it but he said those hire fha loan fees and other changes could head it off. >> based on all of that, do you expect a taxpayer bailout as we sit here today? if so, when? >> based on those stats, i believe we have significantly decreased the chance of having a bailout at the end of 2013 or having to draw on the treasury. i'm not going to assign a possibility at this -- probabilt this point. >> thinks the fha could end up tapping the treasury short-term for several billion dollars next year. shepard. >> shepard: when next year, pete, do we know. >> the devil rays session it will signal intentions on possible treasury funding for the fha when it releases budget for 2014 in february and will actually make a final decision on all of this next september. shepard? >> shepard: peter barnes on capitol hill, thanks. the man investigators unleashing terror inside a crowded colorado m
FOX Business
Dec 6, 2012 3:00pm EST
than $600 billion in tax increases and spending cuts kick in. the fiscal cliff potentially sending the economy into recession. the fear of the cliff. is that putting a veil over your eyes and pretending you seeing good news that could make better trades for your portfolio? you need to see the forest for the trees. to help do that, liz saunders in a fox business exclusive, charles schwab's vice president and chief investment strategist. what is the biggest mistake that the investor is making right now as it pertains to navigating that very rocky fiscal cliff landscape? >> they are trying to trade around perceived outcomes. that is fairly treacherous. we don't get a sense that a lot of investors are doing that -- [talking over each other] liz: there were buying in on the dips because they are trading around he headlines. >> there's a lot of tax related strategy happening right now, many of which make a lot of sense, but i have asked the question of loss, what would you put money on a particular outcome? i wouldn't. that is a dangerous strategy. >> one scenario could be as damaging a
FOX
Dec 6, 2012 5:00am PST
. >>> and they are looking for billions of dollars in cuts as they prepare to go over that fiscal cliff. hundreds of thousands of the jobs all over california could be affected, allison? >> 135 government workers in california could lose their jobs if there is no deal on those spending cuts that kick in at the end of the month. they say not only to plan for the cuts but that has changed. they are preparing to slice about 10% of their budget. experts are looking at 135 defense employees could lose their jobs but experts say there is still time to reach a deal and avoid those major lawsuits. >> nobody wants to reach a deal more than i. i will be ready to sit down with the president and solve this. >> reporter: they could be hit the hardest and i will have more about it during my next update on ktvu channel 2 morning news. >>> they are looking at grant money from the environmental protection agency. each student could be awarded a large sum of money. stanford's group wants to disinfect drinking water in bangladesh. in april they go to washington d.c. to prevent their work to a panel of scientists an
CNN
Dec 1, 2012 7:00am PST
a deal on that fiscal cliff. just 31 days left until we hit those $7 trillion in automatic spending cuts and tax increases if negotiations break down. and both sides of the aisle are going straight to the public in order to plead their case, or rather tell us why the other side is to blame. this is president obama in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. and if we can just get a few house republicans onboard, i'll sign this bill as soon as congress sends it my way. but it's unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the wealthiest americans. >> in the republican response, senator orrin hatch takes th s hostage metaphor one step further and brings to mind a memorable movie scene. >> unfortunately, some on the other side of the aisle are offering a disastrous thelma and luiz strategy that would take u
ABC
Dec 5, 2012 7:00am PST
past the fiscal cliff deadline and postponing the battle over the tax cuts for the wealthy until next month. >>> some things going on at the hospital. two australian deejays called the hospital posing at queen elizabeth and prince charles and got through to kate's private nurse. shockingly, if you hear the audio, who briefed them on her condition. >>> and a health scare for anderson cooper. he says he went blind for almost two days. he actually showed a picture of himself wearing an eye patch. he says he lost his sight for some 36 hours last week, while reporting from portugal, after spending a couple hours on the water. cooper said he felt like his eyes were on fire. it turns out, his eyeballs were sunburned. go figure. >> it can happen. >> it can apparently. >> i did not know that. >> you do now. >>> here's diane sawyer, with a preview of tonight's "world news." diane? >> hello, josh. hello to everyone on "gma." tonight, it's not just holiday shopping. join the movement. "made in america." creates new american jobs. american companies are saying thank you. the great "made in america
FOX News
Dec 4, 2012 4:00pm PST
a deal to keep us from going off the fiscal cliff. the president says the latest republic offer is out of balance because it extends tax cuts on income of above $250,000. g.o.p. leaders claim they can raise revenue without raising rates by closing loopholes and limiting deductions. but the white house says it's about the rates. ed henry is at the white house tonight. the president claims the republic math does not add up. >> that's right, shep. he met with the nation's governors today. he said behind closed doors that there is a lot at stake not just for the national economy but state by state. some of their budgets could take a major hit if, in fact, the nation goes off the so-called fiscal cliff. his spokesman jay carney was even tougher in going after speaker john boehner's latest proposal in saying it simply doesn't add up. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues. it's magic beans and fairy dust. >> the bottom line is the president and speaker boehner have not spoken now in several days. so there is reall
CNN
Dec 5, 2012 11:00am PST
, 27 days until the fiscal cliff. and i know you know that already, but guess what, folks? the deadline for congress and the white house to act, to stop the tax increase and punishing spending cuts, that deadline is coming up quicker than you may realize because did you know, congress plans to end its current session on december 21st? check your calendar as we did today. that's two weeks from friday. that means that under congressional rules any agreement, any legislation to fix this whole mess would have to be filed here by december 28th. here's the kicker. the president currently plans to leave town the day before that, on the 17th of this month. so the yearly obama trip to hawaii is set to start a week from next monday. you feel me here? see where i'm going? the window closing faster than folks think. what are our decisionmakers doing right now? among other things they are apparently sending signals through the media. republicans saying time to get moving. the president saying there is a deal to be had fairly quickly if the republicans come around to raising taxes on the wealthy. let
KBCW
Dec 3, 2012 10:00pm PST
this go around. reduction offer right off te fiscal cliff. >>> the white house has booted the gop's new deficit reduction off the fiscal cliff. the 10-year plan promises to shave $2.2 trillion through a combination of entitlement cuts and tax reform measures. but house republicans still refuse to meet president obama's bottom line. letting the bush tax cuts expire for the wealthy. in the statement, the white house said that the plan fails the balance test and sticks the middle class with the bill. >>> the gay marriage in california is still on hold tonight. the u.s. supreme court could have announced today whether they would review prop 8. instead the justices announced that they will wait until friday to discuss whether to take up the case. legal experts say the delay ruling means nothing. >> it's like we have so many cases on the docket. let's put this one off next week, no big deal. that's really what happened. it really isn't the dog that didn't bark, but it's the case that has not been resolved yet and we're still waiting. >> professor little says he expects if the court grants a r
CNBC
Dec 6, 2012 3:00pm EST
of sense. yet, here we are on the edge of this fiscal cliff. we're not sure what will happen. many people predicting we'll go over the cliff. if we go over the cliff and the automatic spending cuts take effect and the tax increases take effect, what do you think happens to the economy? >> well, at the brt meeting that you mentioned, where the president was nice enough to come over, the question was asked, if we go over the fiscal cliff, how many businesses in this room will reduce capital investment? remember, i just said -- and it's very demonstrable that capital investment is what drives gdp growth rate and job creation. that tells a story right there. if we go across the fiscal cliff, we will have an economic contraction or slow down at best. >> how are things looking right now ahead of the holidays? i'm sure your company is real busy, fedexing gifts. what are your expectations for this holiday season? >> well, you know, the 300,000 wonderful teammates of fedex are working very hard. we publicly forecast a couple weeks ago that on the 10th we would move 19 million shipments through our
FOX
Dec 6, 2012 7:00am PST
any more agreements with the u.s. until those prisoners are transferred. >>> well, the fiscal cliff is looming unless congress takes action to avoid it. coming up at 7:15, the number of california defense department jobs that could be lost if automatic trick -- automatic tax cuts are formed. >>> bill clinton says he's not sure if hillary clinton will run for president. she said she does not want to continue a secretary of state for president obama's second term. she said she wants to focus on issues to -- that are important to women. >>> let's see what tara is seeing on 880. >> we have a lot of traffic on pinole and then past the golden gate gate. we're in berkeley/emeryville. we have a traffic issue in here. 280, northbound towards santa clara, looking pretty bad. give yourself extra time. let's check in with steve. >>> tara, thank you. there's definitely some breaks in the clouds. jive seen gusts to 25 miles per hour. i dent think this -- i've seen gusts to 25 miles per hour. i don't think this -- this breeze can helpster things up a little bit. still some low clouds around. i'm s
CBS
Dec 6, 2012 7:00am EST
. >>> with the government's fiscal cliff looming social security employees protest budget cuts in baltimore city yesterday. they're urging lawmakers to come to an agreement that does not include cuts in social security jobs and services. >>> and stay with wjz 13, maryland's news station. up next a pair of new problems for boeing 787 jet liner. plus tandem base jumpin >>> welcome back to cbs "this morning." boeing's new 787 dream liner is often called the airplane of the future. at mark strassmann reports, the ride continues to be a little bumpy. >> reporter: when the united airlines became the first carrier to add the boeing 787 to its fleet last month it looked like clear skies ahead for the next generation aircraft. this week a pair of setbacks as one plane was forced to make an emergency landing in new orleans and the federal aviation administration issued an order all 787s be inspected for fuel leaks. >> every 787 mp manufactured will have problems in its initial production. >> reporter: united says the emergency landing in new orleans tuesday was caused by the failure of one of si
CNN
Dec 1, 2012 3:00am PST
obama is back on the stump pressing republicans to cut a deal averting the fiscal cliff. >> that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> reporter: republicans say they want their christmas, too, and blame the president for the deadlock. >> there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. >> reporter: things got tense after treasury secretary geithner visited capitol hill thursday to present what republicans are calling an unreasonable proposal. it includes $1.6 trillion in new taxes. in part through raising rates on the top 2% and limiting loopholes and deductions. $50 billion in stimulus next year and $400 billion in medicare and other entitlement savings to be worked out. >> i think that the proposal that was delivered here by secretary goieithner to the speaker and me yesterday is not a serious proposal. >> they want to have this extra spending that actually greater than the amount they're willing to cut. >> but democrats say it was just a starting point and one republicans should counter. >> there
CNN
Dec 6, 2012 4:00am PST
, spending cuts. that's what the fiscal cliff is all about. it would all start with the start of the new year. i want to get to senator jeff merkley. he's a democrat from the state of oregon. he's on both the budget committee and the banking, housing, and urban affairs committee. nice to have you with us, sir. thanks for joining us. >> you're welcome. >> thank you. before we get to fiscal cliff, let's talk a little bit about syria. there are now reports that they may be loading the components that would make up sarin gas. and i'm curious to know and i think a lot of people are watching this, does this mean that we are headed, the united states is headed into military action considering what we know about the red line, if you will, that hillary clinton laid out pretty clearly? >> it was very important for her to draw a very clear line. because any use of chemical weapons has to be responded to internationally. i'm sure the secretary of state is immersed with russia right now, is in negotiations with russia for a united front against this absolutely unacceptable possibility. >> okay. so she's l
CNN
Dec 5, 2012 2:00am PST
over the fight in the fiscal cliff. americans face crushing tax hikes and severe spending cuts in 27 days if democrats and republicans cannot come together on a deal. by the way, congress breaks for the holidays in ten days. slash that number. in an interview with bloomberg news, the president made it crystal clear he's not about to blink on the issue of tax hikes for the wealthiest americans. >> we'll have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> white house correspondent dan lothian joins us live from washington this morning. very nice to see you, dan. >> good to see you. >> here's the deal. we have republicans pitted against democrats. now we understand there are issues amongst republicans as well. >> that's right. they're in a tough spot here. they don't want to be in left in a position of being blamed for the fiscal cliff. you're seeing a division between house members and senate members. the reason for this is mainly over the 800 billion in new tax revenue. this was part of john boehner and plan. those tea party-backed co
FOX
Dec 5, 2012 6:00pm EST
story, the fiscal cliff debate. and fox 5 learned that president obama and john boehner spoke on the issue today, but the results have not been made public. the white house is asking federal agencies to plan for $100 billion in spending cuts and that is what happened if not resolved. administration believes the deal will be done. john boehner made an offer earlier this week putting $800 billion on new revenue on the table. he got hit hard by the administration and members of his own party. >> we have to cut spending and, i believe, it's super flowous. >> and that is a law, higher rates to go up for the 2072%, including all of you. yes. >> reporter: president obama was speaking to business leaders when he made the comment. he insists he will veto any bill not including tax increases on wealthier americans. >>> the defense department started planning for the roughly $500 billion in personnel cuts. the pin is not talking to the defense contractors of public plans. >>> the council made it clear that it's not following the mayor's lead on several issues. it was evident last night d
CNN
Dec 3, 2012 5:00pm PST
parts of the proposals to avert that fiscal cliff will really have. tonight we tackle the much-discussed concept of increasing tax rates for the top 2%. chief business correspondent ali velshi joins me now. help us cut through the spin. the partisans all have a different take on this. if you raise taxes on the top 2%, what's the impact? what does it look like and how much of an impact would it have on the deficit? >> well, let's look at it in two ways. one is income tax, right? right now, the highest earners, those households that earn more than a quarter million dollars a year, pay a higher tax rate on the marginal amount, the amount above the $250,000 a year. so we're talking about taking that rate from 36% to 39.6% if we even go there. that hasn't even been negotiated yet but that's 3.6% on every dollar you earn above $250,000. there are not a lot of studies that suggest that that would have catastrophic effects on the economy. the other area that democrats want to raise taxes are on investment income, things like capital gains, dividend income. now, those will jump signific
ABC
Dec 2, 2012 7:00am PST
'll turn now to the fiscal cliff, 30 days from an economy-crippling deadline. where everyone's taxes go up and massive spending cuts kick in. yet, talks seem to be going nowhere. treasury secretary timothy geithner will be the guest on "this week" with george stephanopoulos. george is with us now. good morning, george. >> last weekend, you sat right here and you said that you were reasonably optimistic that a deal could be afoot. in the intervening week, we have seen a lot of trash-talking from both sides, can we still be somewhat hopeful? >> this week was a rough week in these negotiations. treasury secretary geithner when he went up to capitol hill, on thursday, the senate republican leader mitch mcconnell laughed when he got the offer from tim geithner. they think it's an offer that doesn't show any rules towards compromise. house speaker john boehner said that the talks are at a stalemate. there seems to be a huge divide. democrats said they're not going to make another move until republicans clearly say they're going to go for an increase in tax rates. republicans aren't prepared to m
FOX News
Dec 3, 2012 4:00pm PST
, scientists say they need to study the brains of more athletes. well, the fiscal cliff now. republicans are proposing a brand new plan to prevent the so-called falling off of that cliff. the automatic tax hikes and spending cuts that are set to kick in on the first of the year. the proposal counters one from the white house which republics deemed a joke. the g.o.p. plan would at least for now extend the bush era tax cuts including those cuts for the wealthiest americans it proposes raising $800 billion from tax reform over the course of the decade. and includes more than a trillion dollars in spending cuts. but monday none of them he really detailed. in addition the plan called for changes to the so-called entitlement programs, increasing the eligibility age for medicare and lowering the annual cost of living hikes for social security hikes. flu our -- put theirs on the table and dared republicans to do the same. >> they have done that tonight. the officials saying that the counter offer is ridiculous. they are hammering the fact that there is not enough in terms of tax revenue. that th
CNN
Dec 4, 2012 1:00pm PST
left to make a deal before the country hits what's called the fiscal cliff. that's a combination of across the board tax increases for everyone, coupled with cuts in spending like defense, education, health care, and housing assistance. let's go live to our chief white house correspondent jessica yellin with the very latest. jessica? >> reporter: president obama has now personally turned down speaker boehner's opening offer to avert the fiscal cliff. he did it in a tv interview. what does president obama think of speaker boehner's proposal to avert the fiscal cliff? >> unfortunately, the speaker's proposal right now is still out of balance. he talks about $800 billion worth of revenues but says he's going to do that by lowering rates. when you look at the math, it doesn't work. >> reporter: he won't agree to eliminate a tax deduction for contributions to charity. >> every hospital and university and nonfor profit agency across the country would find themselves on the verge of collapse. so that's not a realistic option. >> reporter: but the president didn't say all this to speaker
CNN
Dec 6, 2012 9:00am PST
cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are going to insist on some cuts anyway, so bottom line is we are going to see a weaker economy into the beginning of next year. probably one way or the other. now, the counter to that, peter, is that there are forces in the economy that are strengthening it. this energy boom that we've got, the natural gas, the amount of fracturing that we're doing, the fact that housing has been doing tremendously well, and interest rates remain very low with prices, so there's some sense that there's a bit of a renaissance on the horizon, and if the government doesn't mess that up too much, 2013 could end up being as good as 2012 if not a little better. i don't know if you completely disagree with that, peter, but i think there's enough good going on that it could offset the bad. >> to you think it could go up to 10% unemployment. do you agree with peter on that? >> i don't know. i don't know if it will go go up to 10%. there are two scenarios. o
KICU
Dec 3, 2012 11:30pm PST
a counteroffer to president obama in the opening round of negotiations to avoid the fiscal cliff. the gop says its proposal would save $800 billion through tax reform. $900billion in mandatory spending cuts, and $300 billion in discretionary cuts. it does not increase tax rates on upper income americans which the white house insists must be included in any deal. >>> on wall street stocks lost ground. nasdaq dropped 8 points. analysts point to a decline in manufacturing, and ongoing worries over the fiscal cliff. >>> what some hoped would be a historic announcement on life on mars didn't amount today. project scientists said soil tests performed by the curiosity rover only showed organic compounds. no proof yet that life existed, or could exist on the red planet. the scientists created big expectations by saying it would be one for the history books. today they said they were only referring to the richness of the data coming from the rover. ♪ [ music ] of course. >>> live storm tracker 2 picking up showers north of us. these showers are going to work their way south. the computer model shows
CNN
Dec 5, 2012 7:00pm PST
with brooking news on the looming fiscal cliff. for the past few nights we've been telling you about the frustrating lack of progress to avert a deal on automatic tax hikes and spending cuts that kick in less than four weeks from now. poll after poll shows the american people want compromise but there weren't many signs that was going to happen, nothing was getting done. in a cnn/crc poll, 67% said washington officials would behave like spoiled children in the fiscal cliff discussions. only 28% said they would behave like adults. tonight signs that maybe some adult behavior might be prevail and a compromise might be reached. jessica yellen joins us, dana bash and david gergen. what's the latest? >> reporter: they are a long way from a deal, but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development because it's the first time they've talked in a week about the fiscal cliff. i am told, though, that there was no real progress in negotiations. in this sense there was no breakthrough on that central point of tax rates.
CNBC
Nov 30, 2012 1:00pm EST
to compromise to get us closer to resolving the fiscal cliff issue? >> i think democrats have already shown a willingness to make very significant cuts. we've already in the budget control act agreed to an excess of $1 trillion of cuts. that's a pretty good faith counsel payment on our willingness to come to the table and do things that are very painful and difficult for us to do. we haven't seen that yet reciprocated in terms of gop willingness to raise the kind of revenues that we've already committed to reducing in terms of spending cuts. but i think we've demonstrated very good faith that we're ready to make the hard calls to pay down our debt, balance our books. at the same time, we don't want to take steps that are going to be counter productive? terms of the economy and getting people employed again. we don't want to go with an austerity approach like europe that will put us into potentially a double dip recession. >> speak to me about another issue that you've really been on the forefront of, and that is immigration reform, specifically as it pertains to highly educated and highly q
CNN
Dec 6, 2012 2:00am PST
in the fight over the fiscal cliff. a deal has to be hammered out in 26 days or all of us will be dealing with heavy-handed tax hikes and sweeping cuts. the two sides are keeping details of the discussion yesterday under wraps. thil standing their ground on tax hikes for the top 2%. >> the revenues we're putting on the table are going to come from, guess who, the rich. >> once republicans acknowledge that rates are going up for top earners, we believe that an agreement is very achievable. >> kate baldwin is live from washington, d.c. really nice to see you, kate. i know i went into this saying that we're light on details. i'm wondering if you know anything else, are we closer to an agreement. >> i think we're a long way from a deal. although it's one issue they're fighting about. politically they are still very far apart. the two men as you mentioned, the president and speaker boehner did speak for the first time yesterday, the first time in a week which i guess at this point in and of itself is significant because there isn't much talking going on outside of that. but neither side is off
CW
Dec 6, 2012 12:00pm CST
could happen if the u.s. a economy goes over the fiscal cliff. economists surveyed said one and a half million americans could lose their jobs if lawmakers fail to come to an agreement and the automatic spending cut impact increases. forces are keeping an eye on some debts for a budget bill. the nasdaq gained due to a rebound by apple. the number was triggered by reports that it would lose shares to its rival google. apple is trying to regain market share from samsung. the to tech companies are back in court today to get it out over a $1 billion patent fight. meantime nationwide insurance is warning customers that its computers networked had been attacked. customers' names birth dates social skirted numbers and driver's license numbers were likely stolen. nationwide is apologizing and are offering customers an identity that protection for one year. start planning did vacations, walt disney new fantasyland is officially open. this is after what may be the biggest expansion in the orlando parts 41 year history. the estimated $300 million magic kingdom makeover includes giving up our g
CNN
Dec 1, 2012 11:00am PST
know you have all heard of the so-called fiscal cliff, the huge tax hikes and spending cuts that will be triggered if congress and the white house don't reach a budget deal by the end of the month. well, what are we looking at? first, cuts in defense. also bush era tax cuts set to x expire, so the majority of americans will pay more taxes. also at stake, the payroll tax holiday and unemployment benefits expect to get cut. dana, in your most recent column, you say it doesn't seem like anyone is doing anything but photo ops and news conferences. one politician was quoted as saying, effectively, we have a month. that's loads of time. is this a sophisticated game of chicken? >> it's a rather unsophisticated game of chicken, kind of elementary. what they're doing, both sides really, is doing a lot of posturing and waiting until they get close to the deadline if not go over the deadline because they feel if they go over the deadline, they're in a position to tell their hard core supporters, look, we have really got to make this deal now or that's the end. the economy goes back in
CNN
Dec 3, 2012 6:00am PST
are nowhere close to a deal to avert that fiscal cliff. the obama administration has laid out its plan calling for $1.6 trillion in new taxes. that includes letting the bush era tax cuts expire for those earning more than $250,000 a year. it's also pushing for a new $50 billion stimulus package and offering $400 billion in new cuts to medicare and other entitlement programs. but republican house speaker john boehner flatly rejected the plan on the table and what he calls the white house's unwillingness to compromise. >> i was just flabbergasted. i looked at him, i said, you can't be serious. i've never seen anything like it. you know, we've got seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. >> you know, i think right now the best thing to do is for them to come to us and say, look, here's what we think makes sense. we've told them what we think makes sense. what we can't do is try to figure out what's going to be good for them. they have to come tell us. >> house minority leader and democrat nancy pelosi also jumping into
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